Tesla began selling its Model Y electric SUV in China in January 2021 for a very low price. Faced with unprecedented interest and demand from Chinese buyers, the company revised prices and raised them by just over 2%.
The Dual Motor Long Range All-Wheel Drive price increased 2.35% from ¥339,900 to ¥347,900. The price of Model Y Performance is up 2.16%, from ¥369,900 to ¥377,900. Overall, this is only a slight increase in price, which equates to approximately $1,200. Model Y still remains a very affordable electric SUV in the Chinese market and is the top competitor to all other EV manufacturers.
MIC 🇨🇳 Model Y price just increased by RMB 8,000, which applies to both LR AWD and Performance version.— ⚡️特拉风🦔T☰SLA mania⚡️ (@Tesla__Mania) March 24, 2021
NO DEMAND!!! pic.twitter.com/Wnglcdirvo
Such an increase in price can reflect that Model Y is in high demand in China. The car is so popular that customers who placed an order just five days after the start of sales earlier in Q1 could only receive their vehicle delivery in Q2 2021.
Deliveries of Model Y in China began on January 18, so they did not have time to reach their peak sales in the first month of the year. However, 1,600 units were delivered in just 13 days. Tesla significantly increased the number of deliveries in February, selling 4,630 units. As Giga Shanghai continues to ramp up production, it is expected to hit a new record in March, significantly different from last month's results.
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